0844 GMT - European luxury companies could experience a choppy third quarter, as the comparison base gets tougher, analysts at JPMorgan say. Despite the expected sequential slowdown, markets that were already strong in the second quarter remain resilient in absolute terms, the analysts write in a research note. These include the U.S., Korea and Japan, they add. Conversely, China's retail sales point to continued volatility, the bank says. This trend is expected "to continue for the rest of the year and possibly into 2027 as well given the ongoing tough macro backdrop and new maturity of the market," the analysts say.